Doral Financial sees record loan production for Q4

MichaelBaron

NEW YORK (CBS.MW) -- Doral Financial
DRL, +0.00%
said it expects "a record level" of loan production for the fourth quarter. For the third quarter, the Puerto Rico mortgage lender said loan production reached $2 billion, an increase of 18 percent from a year ago. The company's net income for the third quarter reached $120.6 million, up 48 percent from a profit of $81.7 million in the same period a year earlier. The stock closed Wednesday at $40.20, down 2.6 percent.

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